This bill amends various sections of the Reissue Revised Statutes of Nebraska, focusing on the Grain Dealer Act and the Grain Warehouse Act. It introduces significant changes, including the redefinition of terms, modifications to fees and licensure requirements for grain dealers and warehouse operators, and the establishment of the Grain Dealer and Grain Warehouse Cash Fund. All grain dealers will now be required to be licensed by the Public Service Commission, which will implement a new fee structure starting July 1, 2027. Additionally, grain dealers must file security for the benefit of producers and submit financial statements prepared by certified public accountants. The bill also eliminates certain provisions related to grain dealer security and modifies requirements for warehouse operators, particularly those licensed under the federal United States Warehouse Act.

Furthermore, the bill clarifies that warehouses not federally licensed will be subject to state licensing and inspection, while federally licensed warehouses will experience a streamlined regulatory process. It ensures that licensing fees do not exceed 25% of the commission's costs for administering the relevant acts. The commission will have the authority to modify annual license fees starting in 2027, with fees collected prior to that date going to the General Fund and those collected afterward credited to the new Cash Fund. The bill also updates language regarding exemptions for federally licensed grain dealers, prohibits the use of unapproved air probes for grain sampling, and mandates the commission to adopt regulations for probe approval. Additionally, it revises the allocation of fees collected under the Grain Warehouse Act to the Cash Fund and repeals several sections of existing law to streamline the regulatory framework.

Statutes affected:
Introduced: 75-905, 75-903, 75-904
Final Reading: 75-905, 75-902, 75-903, 75-904, 88-527, 88-529, 88-548, 88-551
Slip Law: 75-905, 75-902, 75-903, 75-904, 88-527, 88-529, 88-548, 88-551